$BNB As of today, July 23, 2025, the price of BNB (Binance Coin) continues to show significant strength and bullish momentum.
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Current situation:
* Price:
BNB is trading around $795.58 USD, with a slight change over the last 24 hours (+0.61%). However, it is worth noting that over the last 7 days, BNB has risen more than 15%, and over the month - nearly 30%.
* Historical highs:
Recently, BNB reached a new all-time high at $804.70. This indicates a strong upward trend.
* Market capitalization:
The market capitalization of BNB exceeds $110 billion USD, placing it 5th among all cryptocurrencies.
* Trading volume:
The trading volume over the last 24 hours is approximately $2.92 billion USD, confirming high interest in the asset.
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Technical indicators:
* RSI (Relative Strength Index):
On the daily chart, the RSI is around 87, indicating extreme overbought conditions.
This is a classic signal that may foreshadow a short-term correction or price consolidation.
However, in a strong bullish market, the asset may remain overbought for an extended period.
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* Moving Averages:
Most moving averages (5-day, 10-day, 20-day, 50-day, 100-day, 200-day) show a strong buy signal, confirming a sustained upward trend. For example, the 20-day EMA of BNB is $664.01, and the price is significantly above this level.
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* MACD (Moving Average Convergence Divergence):
Bullish momentum is observed, although some sources indicate a potential "bearish crossover" or slowing momentum in the near future.
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* Open Interest and Funding Rate in derivatives:
A significant increase in open interest (reaching a yearly high of $1.05 billion) and a positive funding rate indicate strong bullish sentiment among derivatives traders, suggesting expectations for continued growth.
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Support and resistance levels:
* Resistance:
The nearest resistance is the new all-time high, followed by psychological levels such as $850 and $900.
* Support:
The nearest support levels are around $742 (recently broken weekly level) and $709.29 (target after breaking the "descending wedge"). If the price pulls back, these levels may act as support.
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Forecast for the near future (7 days):
* Bullish scenario:
If BNB can hold above current support levels and continue to receive capital inflow, a move towards the psychological level of $900 is possible.
Some analysts even consider the potential to $956.92 (141.40% Fibonacci extension from the previous move).
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* Bearish scenario (correction):
Given the strong overbought condition (RSI around 87), there is a likelihood of a short-term correction.
If BNB cannot hold current levels, the price may drop to support levels around $742 or $709.29. A significant decline could lead to further drop to $650.
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Overall conclusion:
Currently, BNB is in a very strong bullish trend, breaking new all-time highs.
Data on derivatives and moving average indicators confirm this momentum. However, the high overbought condition on the daily chart (shown by RSI) is a warning signal and may foreshadow a short-term correction.
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Recommendations:
* For short-term traders:
Be cautious considering the overbought condition. A pullback is possible. Watch for breaks of support/resistance levels and trading volume.
* For long-term investors:
The current upward trend looks strong. However, it is always wise to wait for confirmation of breaking key levels or to use dollar-cost averaging strategies during potential corrections.
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As always, one should conduct their own research (DYOR) and consider that the cryptocurrency market is very volatile.
